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Unread 01-15-2010, 09:57 PM   #1
Geminex
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Default Obama makes awesome face, demands Wall street bailout be repayed

http://www.guardian.co.uk/business/2...ax-wall-street


(Live footage)

Well, in a move that seems politically smart and financially mildly questionable at worst, Obama's demanded some $100 billion back from bailed-out walls street banks, in part as retribution, in part to discourage huge salaries. The repaying's over quite a timeframe, I think, so there shouldn't be a danger to liquidity. Just enough to stop head bankers from getting excessive bonuses.

Apparently he got as pissed over the bonuses people in the financial sector were once again getting as the rest of us and acted on this. May have made himself slightly unpopular with some of those silly wall street bankers, but I'm guessing he'd be getting even more approval for this than Britain's government got when they did the same thing to their banks.
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Unread 01-15-2010, 10:03 PM   #2
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I'd like to see the face he makes after he tells the public that he expects the porn industry bailout to be repaid.
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Unread 01-15-2010, 10:08 PM   #3
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I....completely agree....?

...In every way...?
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Unread 01-15-2010, 10:12 PM   #4
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Allowing Haitians to stay in the United States while their country is destroyed! Demanding the bailout money back! The conspiracy is all coming together!
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Unread 01-16-2010, 12:31 AM   #5
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I'm curious about how he's going to enforce the "don't pass this on to your customers" clause, but hey, I'm willing to wait and see.
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Unread 01-16-2010, 12:46 AM   #6
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From what I can tell, this isn't so much about getting the bailout money back, as it is a new tax on banks under the guise of getting the bailout money back. If it was just about getting the bailout money back, the banks that didn't receive any, and the ones that paid it back in full already would not be subject to this. But by all accounts they will be. The banks that didn't need or want the money in the first place, that were forced to take it, and then paid it back as soon as they were allowed are being vilified and penalized in exactly the same way as the ones that were irresponsible, did need the money, and still owe it back.
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Unread 01-16-2010, 01:28 AM   #7
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Default

Well, he's taxing liabilities. I guess that's more of an encouragement to play it safe, since reduced liabilities=reduced risk of lacking liquidity...
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Unread 01-16-2010, 10:34 AM   #8
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Default

This awesome quote belongs with the awesome face.

Quote:
Obama made it clear that he was not prepared to negotiate. "What I'd say to these executives is this: Instead of setting a phalanx of lobbyists to fight this proposal or employing an army of lawyers and accountants to help evade the fee, I'd suggest you might want to consider simply meeting your responsibility."
I'm a little confused as to why Great Britain is involved and I'm looking forward to more details. That said I'm fairly confident that this will be a great move when all is said and done. As a conservative I look forward to the backlash as Republicans continue their policy of everything Obama does is evil.

Since Citicorp has received bailout money they have gone on to purchase the naming rights of the New York Mets new stadium and sponsored the BCS championship game.

All in all this may be my favorite Obama move so far.

Last edited by TheWolf13; 01-16-2010 at 10:36 AM.
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